Business is booming.

Is the mortgage industry ready for mass blockchain adoption?

When asked how they think blockchain can add value to the mortgage world and how big a role it can play, Poulin said: “I’d say that’s a down-the-road thing, but the massive potential with blockchain is tied into artificial intelligence, tied into machine learning, just tied into big data. All that stuff is very exciting, very promising early on that road. I’m not a fan of cryptocurrency, and I wasn’t six months ago either. And nobody, none of our customers, clients are saying, ‘I’d love to pay my mortgage with crypto’. Like, we haven’t heard that yet. Maybe it will. But on the blockchain front, for sure, massive, massive potential.”

Agarwal, who’s also not a crypto fan, believes blockchain might be one of the world’s most significant developments.

“I’ve never bought any crypto money, stayed away from that,” Agarwal said. “But I believe blockchain today is where the internet was in the early 90s and the revolution that blockchain will have to over-the-counter transactions will be as transformative as the internet had on e-commerce. Our own blockchain initiative, our own blockchain technology, simplifies the connection between buyers and sellers. The ultimate over-the-counter system is real estate, where individual buyers and sellers are connected to each other without any central authority. That is the ideal application of blockchain, and it will create massive efficiencies in the market.”

Read more: Can blockchain combat mortgage fraud? CEO believes so

Lehr is also enthusiastic about applying blockchain tech in the title process.

Source link

Comments are closed, but trackbacks and pingbacks are open.